It provides comprehensive guidance on accounting for direct and indirect emissions, categorized as Scope 1, 2, and 3. This standard emphasizes principles like relevance, completeness, consistency, transparency, and accuracy, ensuring that reported emissions are reliable and comparable across organisations.
The Scope
Scope 1 emissions cover direct GHG emissions from sources owned or controlled by the company. Scope 2 emissions account for indirect GHG emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the company.
Scope 3 emissions encompass all other indirect GHG emissions that occur in the value chain of the reporting company, including upstream and downstream emissions.
The GHG Protocol Corporate Standard provides detailed methodologies for calculating emissions across these scopes, enabling companies to develop a comprehensive emissions inventory.
The Importance of GHG Protocol
Using the GHG Protocol allows businesses to understand their complete carbon footprint, identify key emission sources, and develop effective reduction strategies. This standard is crucial for companies seeking to demonstrate their commitment to sustainability, comply with regulatory requirements, and build trust with stakeholders. It provides a consistent and transparent approach to emissions reporting, facilitating informed decision-making and driving climate action. Independent verification, such as that provided by Carbonology, is essential to ensure the accuracy and credibility of GHG Protocol reports. This verification process enhances stakeholder confidence and supports transparent communication about environmental performance.